Home Mortgage Guide

At the last company Christmas party the loan agents lined up on one side of the room and the underwriters on the other side. The loan agents throw fire cracker at the underwriters…and the underwriters lit them and threw them back.
A long-time underwriter wrote to me and opined, “Consumers always want more than what they can afford and we gave them exactly what they …
Read Rest of Mar. 10: Comments on loan quality; Interesting FICO numbers; Will the Fed sell their MBS’s? Apps up, Rates steady

 
To Our Clients, Colleagues and Friends,
 

California’s General Obligation bonds yield about the same as bonds from Greece , but anyway, 30-year California G.O.’s are paying 6%.  Because they’re exempt from state and federal taxes, higher-income Californians in a 40% combined federal and state tax rate get the equivalent of a 10% yield. Not bad.

Audited financials are starting to come in, and they’re confirming what we saw all year.  Top performing mortgage bankers made 90-100 bps per loan.  That means that for …
Read Rest of The Garrett, Watts Report (March 10, 2010)

The Press Enterprise reports from California. “Moreno Valley provides a window into the turbulent housing market left in Riverside and San Bernardino counties after real estate prices collapsed. When Inland home prices hit bottom in the second quarter of last year, existing Moreno Valley homes sold at a median price of $139,226, meaning half sold for more and half for less, according to MDA DataQuick. Also, Moreno Valley was more vulnerable to foreclosures than most Inland cities because almost 10 percent of its 5,461 homes had been built in 2005 or later. That was when frenzied buying drove …
Read Rest of Draining The Swamp In California

There is no denial of the fact that selling out property is no easy task. Numerous number of folk around you are trying hard and putting in their best tries to sell of their properties. When there are free-flowing properties are all prepared for sale, it is quite obvious that selling your own can become quite daunting. However,do not fret as it is not an unattainable task either. Let’s take a look at some measures that will simply help the selling of your property at the earliest best.
A very straightforward and effective way to sell off your property is to …
Read Rest of Got Property For Sale - Tips That Might Help You

Post off-topic ideas, links and Craigslist finds here. Please visit the HBB Forum.
Read Rest of Bits Bucket For March 10, 2010

 
This is a tough way to make a living – BC
Brutally Honest Mobile Home Commercial  -  hattip  IOwnTheWorld.com 
  << CLICK TO WATCH
EMBED-Brutally Honest Mobile Home Commercial – Watch more free videos 

Read Rest of Video: Mobile Home Repossession Man

Mom, Apple Pie and Mortgages – By ROBERT J. SHILLER – … In fact, there is much more to the history of subsidizing housing. While the crisis in the housing market shows that our current …
Read Rest of Mortgage Related: Robert Shiller, Pay To Leave, Repurchases, 10 Deadbeats, NY First Time, Doing Fine, Barney Letter

Greece Bags $5 Billion From Investors Offering Killer Yield As Investors Bet On ECB Backing – Vincent Fernando – Greece successfully pulled off a five-billion euro bond issue that was massively over-subscribed, indicating the investors …
Read Rest of Economic Consequences: Greece, Banks Scramble, MTM Accounting, Volcker, Debtflation, Chain Reaction, HBO Crisis Drama, 4 Day Schools, Geithner Unpopular, Mother of Carry Trades

 
Often I start the commentary off saying something witty, but I couldn’t think of anything clever so I thought I’d suggest you take a look at this video about, of all things, seat belts. It is making the rounds, and with good reason.
The Federal Reserve has a little more than ten business days …
Read Rest of A Repo primer; An opinion on mortgage rates after 3/31; News from LendAmerica, UB, Provident

The Lake County News Sun reports from Illinois. “The fear of losing one’s home in these difficult times sent hundreds of area homeowners Saturday to a free program designed to help them. The homeowners seeking relief are hardly poverty-stricken. In the parking lot, there were a couple of late model Cadillacs and a shining Hummer. In most cases, they were the victims of the recession, having lost their jobs but burdened by mounting debts. Dan Rouille of Gurnee who lost his $100,000-a-year job in information technology, said he owes $82,000 on a house he bought for $109,000 …
Read Rest of Not The Boom-Time Windfall Once Expected